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Russia, EC to Discuss Nord Stream 2

Russia, EC to Discuss Nord Stream 2Russia, EC to Discuss Nord Stream 2

Implementation of the Nord Stream 2 gas pipeline project will be discussed at a meeting with Vice-President of the European Commission Maros Sefcovic, Russian Energy Minister Alexander Novak said. "Certainly, we will not overlook discussion of the Nord Stream, although we have a broad range of issues with the European Commission. Nord Stream and development of gas infrastructure on the whole will be one of the items," the minister said, TASS reported. The Nord Stream-2 project includes the construction of two lines of the offshore gas pipeline with a total capacity of 55 billion cubic meters of gas per year from Russia to Germany under the Baltic Sea, in addition to the existing two lines. The project is to be implemented by the new engineering company New European Pipeline AG. The stakes of partners in Nord Stream 2 AG will be distributed as follows: Gazprom will hold 50%, while BASF, Uniper, Engie, OMV and Shell will own 10% each.

Financialtribune.com